Aptean began the week by announcing its acquisition of Momentis, a provider of purpose-built software solutions for fashion, apparel, footwear, textile, and accessories industries. Blackbaud announced its financial results for its fourth quarter and full year ended December 31, 2023. Oracle introduced new logistics capabilities within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). Finally, SAP created a new end-to-end growth area focused on AI from their new Chief Artificial Intelligence Officer (CAIO).
Hi and welcome to episode 126 of The ERP Minute. I’m your host, Rebekah McCabe.
Aptean kicked off the week by announcing the acquisition of Momentis, a provider of purpose-built software solutions designed for the fashion, apparel, footwear, textile, and accessories industries. With this acquisition, Aptean adds new capabilities to its fashion and apparel offerings for wholesalers, importers, manufacturers, and self-sourcing retailers. Functionality includes product lifecycle management, sales order management, sourcing and logistics, warehouse management, financial management, and business intelligence. This is yet another step toward expansion for Aptean which has its sights set on an acquisition strategy for growth in legacy and smaller markets.
In other news, Blackbaud announced its financial results for its fourth quarter and full year ended December 31, 2023. GAAP total revenue was $295 million, up 7.4%, with $287.4 million in GAAP recurring revenue, up 8.4%. GAAP recurring revenue was. 97% of total revenue. These results demonstrate the continued role of Nonprofit subscription-based software solutions incurring consistent growth despite unclear economic trends.
Then, Oracle introduced new logistics capabilities within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The updates to Oracle Transportation Management and Oracle Global Trade Management, part of Oracle Cloud SCM, will help customers optimize logistics operations by increasing visibility, reducing costs, automating regulatory compliance, and improving decision-making. Supply chain management is vital to business operations across many industries. Oracle recognizes this and is working to continuously improve its solutions on a global scale to deliver value to customers.
Finally, SAP created a new end-to-end growth area focused on AI under the leadership of Dr. Philipp Herzig in the newly created role of Chief Artificial Intelligence Officer (CAIO), effective January 2024. The new unit oversees the entire value chain for SAP Business AI, from product development and research through to customer implementation. The safe use of AI is at the forefront of every business owner’s mind, so vendors will continue to develop stronger, ethical strategies around creating and utilizing AI.
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